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Why AstraZeneca Stock Is Sinking Today

TheMotleyFool

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Shares of AstraZeneca (NASDAQ: AZN) were down by 6.9% as of 1:52 p.m. EST Friday after the big drugmaker announced its third-quarter results.

AstraZeneca reported revenue of $9.9 billion for the quarter. This reflected a 50% year-over-year gain and easily topped the consensus Wall Street estimate of $9.4 billion.

However, it posted a loss of $1.10 per share due to significantly higher expenses related to its acquisition of Alexion. The analysts' average estimate had been for earnings of $1.28 per share.

Source Fool.com

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